CENTRAL CONSUMER PROTECTION AUTHORITY
Focus: GS-III Indian Economy Why in news? The Consumer Protection Act, 2019 has come into force in 2020, and as provided in the act – the Central Consumer Protection Authority (CCPA) has been established. Central Consumer Protection Authority (CCPA) Central Consumer Protection Authority is being constituted under the Consumer Protection Act, 2019 replacing the 1986 […]
NPCI CAPS UPI TRANSACTIONS
Focus: GS-III Indian Economy Why in news? National Payments Corp. of India (NPCI) has capped the number of Unified Payments Interface (UPI) transactions that payment apps such as Google Pay and PhonePe and their partner banks can execute Why was this done? The capping of UPI payments is an attempt to limit the damage to […]
CRYPTOCURRENCY POSES A THREAT TO GOVT’S MONOPOLY
Focus: GS-III Indian Economy, Science and Technology Introduction There has been growing interest in cryptocurrencies since Bitcoin captured the imagination of people. How do you define cryptocurrencies? Cryptocurrencies are e-currencies that are based on decentralized technology and operate on a distributed public ledger called the blockchain. Blockchain records all transactions updated and held by currency […]
74% FDI IN DEFENCE NOTIFICATION TO COME
Focus: GS-III Indian Economy Why in news? The government is going to come out with a decision on 74% Foreign Direct Investment (FDI) in defence and a notification is bound to be released soon. The second draft of the Defence Procurement Procedure (DPP) 2020, now renamed as the Defence Acquisition Procedure (DAP) 2020, was put […]
BIS MOBILE APP ‘BIS-CARE’
Focus: GS-III Indian Economy Why in news? Union Minister for Consumer Affairs, Food & Public Distribution launched the Bureau of Indian Standard’s Mobile App ‘BIS-Care’ and three portals – the Standardization, Conformity Assessment and Training Portals of e-BIS for consumers. Details Consumers can check the authenticity of the ISI-marked and hallmarked products and lodge complaints […]
RBI GOVERNOR: 5 POINTS TO REIGNITE THE ECONOMY
Focus: GS-III Indian Economy Why in news? Reserve Bank of India (RBI) governor said five dynamic shifts have the potential to shape the future of the country’s economy. He said the infrastructure gap still remains large and there is a need for diversifying financing options. The Five Dynamic Shifts I. Favoring Agricultural Sector The RBI […]
GOVT. TO GO AHEAD WITH DIVESTMENT OF PSUS
Focus: GS-III Indian Economy Why in news? The government is working on completing the stake sale process of about 23 public sector companies whose divestment has already been cleared by the Cabinet. With regard to extending credit to the industry – under the Emergency Credit Line Guarantee Scheme (ECLGS), micro, small and medium enterprises (MSMEs) […]
DISPLAYING COUNTRY OF ORIGIN MADE MANDATORY
Focus: GS-III Indian Economy Why in news? The Consumer Protection Act, 2019, has brought in a new regulatory framework for e-commerce in the country, requiring online platforms to display the country of origin of items sold, apart from new rules that will enforce product liability for the first time. Details Rules framed under the Consumer […]
CHINESE INVESTMENT PROPOSALS WAIT FOR SECURITY
Focus: GS-III Indian Economy Why in news? About 200 investment proposals from China are awaiting security clearance from the Ministry of Home Affairs (MHA) after new rules were notified making prior government approval mandatory for foreign direct investments (FDI) from countries which share a land border with India. Details As FDI is allowed in non-critical […]
IREPS TO BE INTEGRATED WITH GEM
Focus: GS-III Indian Economy Why in news? Minister of Railways and Commerce & Industry reviewed the steps to promote Make in India products in procurement process of Indian Railways and Indian Railways is integrating its procurement systems with Government e-Marketplace (GeM). What was decided? Indian Railway e-Procurement System (IREPS) and GeM will be integrated to […]